Variables | Lag length | Hypothesized No. of CE(s) | Eigenvalue | Trace statistic | 5% critical value | Probablity |
lngdp, lnex, lnim | 0 | r = 0 | 0.869468 | 50.97790 | 24.27596 | 0.0000 |
r ≤ 1 | 0.468278 | 12.29128 | 12.32090 | 0.0506 | ||
r ≤ 2 | 0.015143 | 0.289923 | 4.129906 | 0.6514 | ||
lngdp, lnfdi | 2 | r = 0 | 0.578326 | 22.37637 | 20.26184 | 0.0252 |
r ≤ 1 | 0.364113 | 7.696477 | 9.164546 | 0.0943 | ||
lngdp, lnexse | 0 | r = 0 | 0.775406 | 28.40913 | 12.32090 | 0.0001 |
r ≤ 1 | 0.001755 | 0.033377 | 4.129906 | 0.8812 | ||
lngdp, lnimse | 0 | r = 0 | 0.317058 | 7.245565 | 15.49471 | 0.5493 |
r ≤ 1 | 1.74E−08 | 3.31E−07 | 3.841466 | 0.9997 | ||
lnind, lnex | 1 | r = 0 | 0.593392 | 17.02365 | 15.49471 | 0.0292 |
r ≤ 1 | 0.044817 | 0.825337 | 3.851466 | 0.3636 | ||
lnind, lnim | 0 | r = 0 | 0.343641 | 9.245916 | 15.49471 | 0.3431 |
r ≤ 1 | 0.063475 | 1.246006 | 3.841466 | 0.2643 | ||
lnsev, lnex, lnim | 1 | r = 0 | 0.819632 | 42.14957 | 35.01090 | 0.0074 |
r ≤ 1 | 0.404375 | 11.31992 | 18.39771 | 0.3622 | ||
r ≤ 2 | 0.104830 | 1.993343 | 3.841466 | 0.1580 | ||
lnsev, lnfdi | 2 | r = 0 | 0.670336 | 20.19002 | 15.49471 | 0.0091 |
r ≤ 1 | 0.075005 | 1.325429 | 3.841466 | 0.2496 | ||
lnsev, lnexse | 0 | r = 0 | 0.769840 | 28.12626 | 12.32090 | 0.0001 |
r ≤ 1 | 0.011284 | 0.215615 | 4.129906 | 0.6993 | ||
lnsev, lnimse | 0 | r = 0 | 0.278793 | 6.333253 | 15.49471 | 0.6561 |
r ≤ 1 | 0.006479 | 0.123502 | 3.841466 | 0.7253 |